Following on from yesterdays piece on the remarkable underperformance of the hedge fund sector I thought it would be interesting to compare the compensation hedge fund managers pay themselves compared to a few other highly paid industries. To put my little league table into context I thought it would be nifty to graph them to…
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Weasel word excuse – “It has been difficult for hedge funds on the short side,” said Nick Markola, head of research at Fieldpoint Private, a $3.5 billion Greenwich, Connecticut-based private bank and wealth-advisory firm. “Funds were defensively positioned. Central bank action did bode well for equities and made for a more challenging environment for hedge funds.” Drunkenmiller…
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I came across this wonderfully sycophantic piece the other day and would have posted it earlier but I was looking for some figures from Simon Lacks – The Hedge Fund Mirage The figures I was looking for are From 1998 – 2010 the hedge fund industry took $379 billion in fees whereas investors…
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Interesting long article about the demise of alpha – that is a positive return over and above what the market can intrinsically produce. I would probably add that there has never been a situation in history where money managers have en masse produced alpha, so the situation being described is not new. Fund managers have…
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I have been watching with some interest the scrag fight that surrounds Herbalife (HLF). Before going into the details of this brawl it is instructive to look at a chart of HLF and pick which direction you would have preferred to have been facing for the past year. On one side of the…
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He may have failed in his bid to block Dell Inc.’s management buyout, but the last 12 months have been very good to Carl Icahn, all the same. Icahn’s net worth soared nearly 40% to $20.3 billion, making him the richest alternative investments honcho in America, according to Forbes magazine. Icahn placed 18th on the annual Forbes…
DetailsI have two contenders today for the stupidest regulatory idea of the day and the stupidest quote of the year. The stupidest regulatory idea is undoubtedly allowing hedge funds to advertise to the general public and the far and away club house leader for stupidest quote of the day is from Bob Rice the managing…
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